Police & Firemen s Retirement System of New Jersey Has $5.74 Million Holdings in ResMed Inc. $RMD

Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of ResMed Inc. (NYSE:RMD) by 5.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,251 shares of the medical equipment provider’s stock after buying an additional 1,158 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in ResMed were worth $5,741,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of ResMed by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,493,702 shares of the medical equipment provider’s stock valued at $4,139,815,000 after purchasing an additional 320,240 shares during the period. Geode Capital Management LLC boosted its holdings in ResMed by 2.4% during the second quarter. Geode Capital Management LLC now owns 4,215,145 shares of the medical equipment provider’s stock worth $1,083,409,000 after buying an additional 98,717 shares during the last quarter. Northern Trust Corp grew its position in shares of ResMed by 2.5% during the 1st quarter. Northern Trust Corp now owns 1,744,541 shares of the medical equipment provider’s stock worth $390,516,000 after buying an additional 41,951 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of ResMed by 4.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 998,128 shares of the medical equipment provider’s stock worth $223,431,000 after buying an additional 41,108 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of ResMed by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 977,401 shares of the medical equipment provider’s stock valued at $218,791,000 after acquiring an additional 22,789 shares during the last quarter. 54.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RMD. Wall Street Zen cut shares of ResMed from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Morgan Stanley set a $305.00 target price on shares of ResMed in a report on Friday, October 31st. Weiss Ratings reissued a “buy (b-)” rating on shares of ResMed in a report on Wednesday, October 8th. Piper Sandler upped their price objective on shares of ResMed from $248.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Finally, Royal Bank Of Canada lifted their target price on ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $297.45.

Insiders Place Their Bets

In related news, CEO Michael J. Farrell sold 8,011 shares of ResMed stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $249.75, for a total value of $2,000,747.25. Following the sale, the chief executive officer owned 467,866 shares of the company’s stock, valued at approximately $116,849,533.50. The trade was a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Michael J. Rider sold 100 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total value of $27,436.00. Following the sale, the general counsel owned 11,327 shares in the company, valued at $3,107,675.72. The trade was a 0.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,182 shares of company stock valued at $5,658,783 in the last quarter. Company insiders own 0.65% of the company’s stock.

ResMed Stock Performance

RMD opened at $244.74 on Friday. The company has a market capitalization of $35.72 billion, a price-to-earnings ratio of 25.73, a P/E/G ratio of 1.75 and a beta of 0.87. The business’s 50-day moving average price is $266.27 and its two-hundred day moving average price is $262.80. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53.

ResMed (NYSE:RMD) last announced its earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.06. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.ResMed’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.20 EPS. Equities analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 13th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, November 13th. This represents a $2.40 annualized dividend and a yield of 1.0%. ResMed’s dividend payout ratio is presently 24.56%.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.